ADAG shares trade mixed; RCom hits fresh record low

Barring Reliance Communications, shares of other companies in the Anil Ambani-run Reliance Group were trading in green in morning trade on Tuesday.

Reliance Communications (RCom) extended its losses for the third straight session and hit a fresh record low on Tuesday after ET on Monday reported that the company had fallen behind on loan-servicing obligations with more than 10 local banks.

Shares of RCom were trading 3.66 per cent down at Rs 19.75 around 10.20 am (IST) on Tuesday. The scrip opened at Rs 20.20 and touched a new all-time low of 18.95 in trade so far. Reliance Communications cracked 20.54 per cent to settle at Rs 20.50 on BSE on Monday.

The telcom player posted a consolidated net loss of Rs 966 crore for the March quarter compared with a year-earlier net profit of Rs 90 crore amid a raging tariff war, missing estimates sharply. "The telecom sector in India has been very adversely impacted during 2016-17 by competitive intensity on a scale never witnessed before in the country," RCom said in a statement.

However, Reliance Power, Reliance Capital and Reliance Infra were up 1 per cent, 1.05 per cent and 0.74 per cent at Rs 40.35, Rs 545.20 and Rs 455.50, respectively.

Reliance Defence and Engineering was up 0.27 per cent at Rs 55 at around the same time.